RBI rate cut - good move: Rajesh Prajapati

The real estate industry welcomes the announcement of Dr. Raghuram Rajan, RBI Governor on a cut of 25 basis points in its repo rate as a good move said, Rajesh Prajapati, MD, Prajapati Constructions.

'This will help in lowering the home loan interest rates making home buying a reality, at the same time will help propel the growth of the real estate industry.'

He expected the rate to further come down by 200 bps which should see home loan rates stabilize at around 8%.

'We are happy to see these positive steps initiated by the government. The real estate industry has long been neglected and it is time now that we are granted industry status, it is the second largest employment generator in the country, only after agriculture', added Prajapati.